YES Bank, JK Paper, RIL, Nazara Tech & BSE: Prabhudas Lilladher's Vaishali Parekh shares outlook

Vaishali Parekh, Vice-President (Technical Research) at Prabhudas Lilladher, on Monday shared her views on select stocks including YES Bank, JK Paper, Reliance Industries Ltd (RIL), Nazara Technologies and BSE.

On YES Bank, Parekh said the stock is showing signs of improvement. "Rs 18.50 should act as a support right now. This can go towards Rs 22 level. A breakout above Rs 22 would provide further clarity that the stock is getting into a trend, but for now, the Rs 22–22.50 range acts as a strong hurdle," she told Business Today.

For JK Paper, she suggested that with the day's low of Rs 365.05 as a stop loss, the stock could be looked at for targets of Rs 400–410 levels.

Speaking on RIL, Parekh highlighted that the Rs 1,380–1,350 zone acts as a good support, while the stock is currently trading in the Rs 1,450–1,480 band. "A decisive breakout above Rs 1,480 is required for further upside potential," she said.

On Nazara Technologies, Parekh pointed out weakness in the counter. "We've seen the stock taking a beating and a slip below Rs 1,100 hints at further weakness," she observed.

Regarding BSE, Parekh said the stock had witnessed a strong run-up earlier but the momentum has now cooled off. "Investors can consider buying the stock around Rs 2,200 level as it offers a good opportunity," she added.

Meanwhile, Indian equity benchmarks traded higher today, tracking a rally in global markets on expectations of a potential US Federal Reserve rate cut. Gains in IT stocks further supported the uptrend.

The broader market also advanced in tandem, with the BSE MidCap100 index rising 0.49 per cent and the SmallCap100 index adding 0.31 per cent.